Home ::
TCTA President's Message: Charlotte Clifton
As I have had the opportunity to travel and visit with educators throughout the state of Texas this year, one question is consistently raised everywhere I go: “What about TRS?” Teachers want to know what they can do to ensure that the Teacher Retirement System of Texas will effectively meet their retirement needs. I believe the answer to this question is simpler than we might expect. TRS members need to get actively involved!
TRS at-a-glance
To fully understand the system, let’s review some basic facts as reported in the 2006 TRS Comprehensive Annual Financial Report and the TRS Benefits Handbook. Established in 1936, TRS is the nation’s fifth largest pension fund now serving more than 1,168,840 members and annuitants. At the end of the 2006 fiscal year, the value of the fund was in excess of $100 billion dollars. The mission of the TRS is:
1. to deliver retirement and related benefits authorized by law for members and their beneficiaries; and
2. to prudently invest and manage the assets held in trust for members and beneficiaries in an actuarially sound system administered in accordance with applicable fiduciary principles.
A nine-member board of trustees is charged with the administration of the system, and the members of this board are appointed to six-year terms.
As reported recently by several news organizations, TRS Board members have been asked to consider plans advocating major changes in current investment strategies. Some individuals, however, have cautioned against such sweeping changes that would likely include a move to higher risk investments. Clearly, this is an important time that could shape the future of TRS.
Get connected, cast your vote
Teachers often feel somewhat disconnected from the decision-making processes involved in TRS, but the good news is that we don’t have to be. Teachers will have a chance this spring to make their voices heard by simply casting a vote. A TRS Board of Trustees position designated for a public school district employee is going to be filled this year, and teachers will be asked to help make this selection. After careful consideration, I have chosen to run for this position on the TRS Board of Trustees. I have fulfilled the necessary obligations to qualify as a candidate, and my name will appear on the ballot. As a TRS member, your March edition of TRS News will include a ballot to select one candidate from a field of 14. After making your selection, you will return the ballot to TRS via a postage-paid envelope. You also may cast your vote online through the TRS website. Names of the three candidates garnering the most votes will be forwarded to Gov. Rick Perry, who will make a final selection and appointment.
TRS is key to financial future
I commend the teachers of our state for their strong turnout at the polls in the 2006 March primaries and November elections. We did our homework on the candidates and followed through by voting. This gave me a sense of great pride in Texas teachers who truly made a difference. Please make a difference again by taking the time to fill out and mail a TRS ballot or cast your vote online. A high number of returned ballots this year will demonstrate that teachers are paying attention and want their voices to be heard. In the past, the percentage of teachers voting has been dismally low, but I believe this can be attributed to one major factor. We often know so little about the TRS Board candidates that we feel unable to make an educated vote. As a candidate for this board position, I would greatly appreciate your support and influence among your colleagues in this election. Teachers do care about TRS, and I encourage you to take the few minutes required to demonstrate that the future of TRS and your own financial future are important to you.
The $100 billion question–“What about TRS?”–has a straightforward answer: “It will be what we help make it.” This system was created for educators and we need to take ownership by getting involved. Never underestimate how much we can accomplish when we work together.
From the Spring '07 edition of The Classroom Teacher
Web posted 03/20/07
